Do Demographics matter?

Young people create growth and inflation. They spend money, they borrow, and they grow the economy. Older people hinder growth and cause deflation. They spend less, borrow less and downsize (sell). Why were private golf courses so expensive in the 80’s and 90’s, why were tennis clubs so exclusive? The largest population in history was turning 40…peak spending years. Why have these clubs become less exclusive and less expensive? Why is the Fed keeping interest rates low to shore up the economy? Why are oil prices declining? The largest population in history is now in their 60’ and 70’s. They are spending less. What happens when there are more sellers than buyers? Prices decrease. For the first time in history a smaller generation is following a larger one. Baby boomers are selling. There is a predictable spending pattern we all adhere to.